ImmunityBio (NASDAQ:IBRX) Trading 1.2% Higher – Should You Buy?

ImmunityBio, Inc. (NASDAQ:IBRX)’s share price traded up 1.2% on Thursday . The company traded as high as $6.87 and last traded at $6.62. 13,364,308 shares were traded during mid-day trading, a decline of 68% from the average session volume of 42,219,293 shares. The stock had previously closed at $6.54.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. D. Boral Capital reiterated a “buy” rating and issued a $24.00 price objective on shares of ImmunityBio in a research report on Tuesday, January 20th. Piper Sandler raised their price target on ImmunityBio from $5.00 to $7.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. HC Wainwright lifted their price objective on ImmunityBio from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Jefferies Financial Group upped their target price on shares of ImmunityBio from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ImmunityBio in a research report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, ImmunityBio presently has an average rating of “Moderate Buy” and a consensus target price of $11.80.

ImmunityBio Stock Performance

The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of -14.51 and a beta of 0.16. The company has a 50-day moving average price of $3.95 and a 200-day moving average price of $2.93.

Insiders Place Their Bets

In other news, Director Barry J. Simon sold 151,967 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $7.20, for a total value of $1,094,162.40. Following the completion of the transaction, the director owned 3,091,604 shares of the company’s stock, valued at $22,259,548.80. The trade was a 4.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christobel Selecky sold 50,000 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $5.00, for a total value of $250,000.00. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 226,967 shares of company stock worth $1,531,912. Insiders own 69.48% of the company’s stock.

Institutional Trading of ImmunityBio

A number of large investors have recently bought and sold shares of the business. Sanctuary Advisors LLC lifted its stake in ImmunityBio by 6.9% in the fourth quarter. Sanctuary Advisors LLC now owns 29,547 shares of the company’s stock valued at $59,000 after buying an additional 1,918 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in ImmunityBio by 8.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 28,783 shares of the company’s stock worth $57,000 after purchasing an additional 2,271 shares during the period. Mutual Advisors LLC increased its holdings in ImmunityBio by 9.0% during the 4th quarter. Mutual Advisors LLC now owns 30,200 shares of the company’s stock worth $60,000 after purchasing an additional 2,500 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of ImmunityBio by 4.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 75,776 shares of the company’s stock valued at $150,000 after purchasing an additional 3,280 shares in the last quarter. Finally, Courier Capital LLC grew its holdings in shares of ImmunityBio by 11.1% during the third quarter. Courier Capital LLC now owns 50,000 shares of the company’s stock worth $123,000 after buying an additional 5,000 shares in the last quarter. 8.58% of the stock is owned by institutional investors.

About ImmunityBio

ImmunityBio, Inc is a clinical-stage biotechnology company specializing in the development of novel immunotherapies for cancer and infectious diseases. The company’s research platform centers on harnessing the power of the human immune system—through engineered T cells, natural killer (NK) cells, cytokine superagonists and viral-vectored vaccines—to target and eliminate diseased cells across a range of indications.

Among its lead assets is Anktiva (formerly known as N-803), an interleukin-15 superagonist designed to stimulate NK and T cell activity.